Morningstar, Inc.

MORN · NASDAQ
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12/31/2024
12/31/2023
12/31/2022
12/31/2021
Revenue$2,275$2,039$1,871$1,699
% Growth11.6%9%10.1%
Cost of Goods Sold$896$844$779$698
Gross Profit$1,379$1,195$1,091$1,001
% Margin60.6%58.6%58.3%58.9%
R&D Expenses$0$81$0$0
G&A Expenses$327$356$400$318
SG&A Expenses$768$780$757$593
Sales & Mktg Exp.$441$424$357$275
Other Operating Expenses$126$104$167$151
Operating Expenses$895$965$924$744
Operating Income$485$231$168$257
% Margin21.3%11.3%9%15.1%
Other Income/Exp. Net-$11-$57-$41-$1
Pre-Tax Income$474$174$127$256
Tax Expense$104$33$57$63
Net Income$370$141$71$193
% Margin16.3%6.9%3.8%11.4%
EPS8.643.311.654.5
% Growth161%100.6%-63.3%
EPS Diluted8.583.291.644.45
Weighted Avg Shares Out43434343
Weighted Avg Shares Out Dil43434343
Supplemental Information
Interest Income$12$9$2$2
Interest Expense$50$61$28$9
Depreciation & Amortization$190$185$167$151
EBITDA$732$427$326$410
% Margin32.2%21%17.4%24.1%